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Financials

Bank of China Q4 profit rises 3.8%, beating estimates

BEIJING/SHANGHAI, March 27 (Reuters) - Bank of China Ltd (BoC),, the country’s fourth-largest lender by assets, posted 3.8% rise in the net profit for the fourth quarter of 2019.

Profit at BoC was 27.83 billion yuan ($3.93 billion) for the quarter ended December, versus 26.81 billion yuan a year ago, the lender said in a filing on Friday.

Analysts had expected a net profit of 22.61 billion yuan, according to Refinitiv SmartEstimate and Reuters calculation.

SmartEstimates give more weight to recent estimates by analysts who are more consistently accurate.

For the full year, the Beijing-based lender posted 4.1% rise in net profit to 187.41 billion yuan, above analysts’ average estimate for 182.19 billion yuan.

$1 = 7.0846 Chinese yuan renminbi Reporting by Zhang Yan, Cheng Leng in Beijing, Engen Tham in Shanghai; Editing by Himani Sarkar and Edmund Blair

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